Clifford Chance Advises on Apollo’s $1.0bn Investment in Aldar via Region’s Largest Corporate Hybrid Private Placement

"Clifford Chance advised on Apollo Global Management’s further investment in Aldar through a USD 1.0 billion subordinated hybrid notes private placement—the largest corporate hybrid private placement in the region. The proceeds were injected as equity into Aldar Investment Properties (AIP) to support Aldar’s growth and optimise its capital structure, and the deal included repayment of USD 500 million of perpetual subordinated notes previously issued by AIP to Apollo. The UAE Clifford Chance team was led by Mohammed Al‑Shukairy and Stuart Ure. The transaction builds on a long‑running Aldar–Apollo partnership, bringing total transactions between them to about USD 2.9 billion to date."